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AI unicorn Megvii announces plan to expand footprint in smart logistics

By Cheng Yu | | Updated: 2020-10-16 13:59
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Tang Wenbin, co-founder and chief technology officer of Megvii, delivers a keynote speech during a conference on Oct 15. [Photo provided to]

Chinese artificial intelligence unicorn Megvii announced on Thursday its latest strategy of tapping the smart logistics segment, as the company seeks to explore wider applications of AI technology.

"Internet of things in the supply chain will be a key engine supporting Megvii's sustained growth. We will resolutely make long-term investment and deepen our presence in the field of smart logistics," said Tang Wenbin, co-founder and chief technology officer of Megvii.

Tang said the logistics industry and AI are undergoing a "two-way selection" and that Megvii fully sees the value and mission of AI technology in the logistics industry.

"In the traditional logistics, people are under high pressure and harsh work environment sometimes. Logistics costs have also been rising each year," he said, "That's where AI can join in to reduce costs and increase efficiency for companies and users."

His statement came after the company launched seven new products on robots and smart logistics. MegBot-T800, the newly launched material transportation AMR, is able to run a maximum operating speed of 2.1 meters per second.

The firm also announced on the same day the establishment of an AI logistics industry alliance, which brings together over leading 30 institutions and enterprises in the field.

"Megvii has always adhered to software and hardware integration to accelerate the commercial implementation of AI. We hope to enable AI into smart logistics equipment, rather than competing with homogeneous products," said Wang Hongyu, senior vice-president of Megvii.

"That's why Megvii is also actively working with industry partners to provide customers with intelligent solutions for warehouse consolidation," he added.

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